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I live in a blue state that is nearly as bad, although not quite, as California. Our illustrious Governor decided to raise the state income tax a whopping 67%, then couldn’t understand why Caterpillar refused to locate their new North American plant in Illinois. In fact, the actual quote from Cat is:
Caterpillar Inc. will not be building its new North American plant anywhere in the state of Illinois, officials with the company told local leaders Tuesday, with part of the reason being continued concerns about the business climate in the state. – Source
The individual income tax is a flat tax, so the 67% increase hits everyone. Little wonder why Illinois is depopulating.
The data reflects a continuation of a trend of out-migration from Illinois that has lasted more than a decade. Between 1995 and 2009, the state lost on a net basis more than 806,000 people to out-migration.
When people leave, they take their income and their talent with them. In 2009 alone, Illinois lost residents who took with them a net of $1.5 billion in taxable income. From 1995 to 2009, Illinois lost out on a net of $26 billion in taxable income to out-migration. – Source
Honestly, if I didn’t have family still here in the state, I would be moving elsewhere.
oil guy from Alberta
12 years ago
I remember the Cat 398, 399, 1200 series industrial engines during my oil rigging days. With 2 399’s online (diesel electric rig) one could part a 20k feet of drill string on a bottom pull. The other 2 engines ran the mud slush pumps and provided the electricity. The 1200’s, later on provided 25% more power while using 25% less fuel. That’s real technology.
Bill Whittle rocks. I wish Fox would hire him.
I live in a blue state that is nearly as bad, although not quite, as California. Our illustrious Governor decided to raise the state income tax a whopping 67%, then couldn’t understand why Caterpillar refused to locate their new North American plant in Illinois. In fact, the actual quote from Cat is:
The individual income tax is a flat tax, so the 67% increase hits everyone. Little wonder why Illinois is depopulating.
Honestly, if I didn’t have family still here in the state, I would be moving elsewhere.
I remember the Cat 398, 399, 1200 series industrial engines during my oil rigging days. With 2 399’s online (diesel electric rig) one could part a 20k feet of drill string on a bottom pull. The other 2 engines ran the mud slush pumps and provided the electricity. The 1200’s, later on provided 25% more power while using 25% less fuel. That’s real technology.
Where is Caterpillar headed today?